Hero Realty buys 8.71 acres of land in Mohali for Rs 262.75 crores

Hero Realty through its entity Vikas Parks Pvt. Ltd., has acquired a prime land parcel spanning 8.71 acres in Sector 99, Mohali, through a auction conducted by Greater Mohali Area Development Authority (GMADA) for Rs 262.75 crore, two people aware of the development said. The firm will develop a residential project.

“Mohali has always been a strategically important market for us. We continue to explore new collaborations that can help us further strengthen our presence across northern Indian cities,” said Rohit Kishore, CEO, Hero Realty.

With its Hero Homes project in Sector 88, Hero Realty has already established a footprint in Mohali. Sold across three phases, the company has already delivered 544 units across seven towers in Phase 1 and has also started handing over possessions of Phase 2, which has another 650 units.

Phase 3, launched only last week, marks the final phase of this landmark 18.5-acre development. The new Sector 99 project will build on this success, positioning the brand even more strongly in the Tricity market.

Beyond Mohali, Hero Realty continues to expand across North India. In Ludhiana, it is adding new phases to its existing portfolio. At the same time, in the NCR, it has launched The Palatial on the Dwarka Expressway in the last quarter, following its other successful projects in Gurugram and Sonipat.

HRPL is currently developing over 5.2 million square feet of residential projects across the NCR and Punjab. Additionally, the company has delivered over 230 acres of industrial parks in Haridwar and has developed 6 million square feet of assets nationwide.